First National Bank Sioux Falls decreased its stake in shares of AT&T Inc. (NYSE:T) by 39.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,644 shares of the technology company’s stock after selling 5,551 shares during the period. First National Bank Sioux Falls’ holdings in AT&T were worth $246,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. First Command Bank increased its holdings in AT&T by 94.7% in the second quarter. First Command Bank now owns 136,968 shares of the technology company’s stock valued at $4,141,000 after buying an additional 66,629 shares during the last quarter. AXA grew its position in shares of AT&T by 27.9% in the 1st quarter. AXA now owns 3,527,087 shares of the technology company’s stock worth $102,814,000 after acquiring an additional 770,426 shares in the last quarter. Kwmg LLC increased its holdings in shares of AT&T by 6.9% in the 2nd quarter. Kwmg LLC now owns 83,935 shares of the technology company’s stock valued at $2,537,000 after acquiring an additional 5,439 shares during the last quarter. City Holding Co. raised its position in shares of AT&T by 3.3% during the 2nd quarter. City Holding Co. now owns 154,335 shares of the technology company’s stock valued at $4,664,000 after acquiring an additional 4,975 shares in the last quarter. Finally, Balyasny Asset Management LLC bought a new position in AT&T during the second quarter worth $2,082,000. 52.29% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on T shares. Morgan Stanley dropped their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Scotiabank cut shares of AT&T from a “sector perform” rating to a “sector underperform” rating and cut their target price for the stock from $34.00 to $30.00 in a report on Monday, August 31st. Oppenheimer restated a “buy” rating and issued a $38.00 target price on shares of AT&T in a research note on Thursday, October 1st. Bank of America reiterated a “buy” rating and set a $36.00 price target on shares of AT&T in a research report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.56.

In other AT&T news, Director Stephen J. Luczo bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were acquired at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

Shares of T stock opened at $27.33 on Friday. AT&T Inc. has a 1 year low of $26.08 and a 1 year high of $39.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The business’s fifty day moving average is $28.84 and its 200-day moving average is $29.74. The stock has a market cap of $194.73 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69.

AT&T (NYSE:T) last announced its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The business had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter last year, the business posted $0.89 earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 3.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, October 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. AT&T’s dividend payout ratio (DPR) is 58.26%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

Further Reading: Most Volatile Stocks

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

Institutional Ownership by Quarter for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.